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Discussion in 'Money' started by Chief, Aug 17, 2009.
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Not many Big 4 partners in Australia make more than $1 million per annum.
The notion that "most" do is simply bollocks. A salaried partner in a Big 4 firm is typically on about $300k (starting) and they move up based on a range of factors. Also "equity" is a relatively notional term in Big 4 firms as in most cases its simply a bigger share of the income pie rather than anything that leads to a saleable interest (on say departure from the firm).
Certainly there are a number of Partners around Australia making more than $1 million. But "most" equity partners in Big 4 firms are more in the $500k - $800k range.
Also, anyone who can name me a single partner at a Big 4 firm who has ever lost "everything" (from his/her involvement with the firm), wins a prize. It doesn't happen. They do take a risk, particularly the auditors, but they separate their value assets from themselves AND they have all sorts of insurance and other undertakings in place to minimise any permanent damage. I mean, when Andersen went down, the vast majority of its partners just became partners in former competitor firms under a series of takeovers, mergers etc .... not too many of them begging in the streets ...
Solid first post